Trump Org Unveils Plan for Australia’s Tallest Tower
Trump Organization unveils a $1B, 91-storey luxury skyscraper on the Gold Coast, aiming to become Australia’s tallest building amid conflict of interest concerns.
US President Donald Trump's company has announced plans to build a skyscraper in Australia, which his son Eric says will be the country's tallest building.
The tower will be built on Queensland's Gold Coast and will rise 335 meters (1,100 ft), taller than London's Shard.
Eric Trump, executive vice president of the Trump Organization, said the firm's first official project in Australia would bring "the prestige and allure of a world-class luxury brand" to the country.
Donald Trump has faced criticism that the company is unfairly capitalizing on his influence as president, despite having promised before beginning his second term that he would have no involvement in business management while in office.
The Trump International Hotel & Tower, Gold Coast, is expected to cost at least $1 billion (£740m).
According to the hotel's developer, Altus Property Group, construction on the 91-story Trump International Hotel & Tower, Gold Coast, is scheduled to begin in August. The Trump Organization stated that the building will feature 285 hotel rooms and 272 luxury residential apartments. It will also include space for high-end retailers and restaurants, as well as an exclusive beach club on the world-famous beachfront.
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But as Australia's tallest building, it already faces competition.
A twin-tower project is proposed on the same stretch of beach that will rise 50 meters.
Work on the 101-story One Park Lane project is also expected to begin later this year.
The Trump Organization brand is used in more than 20 locations worldwide, including major cities in the UK, the Middle East, Asia, and the US.
It focuses on high-end property development and luxury hospitality.
In addition to running its own businesses, the company licenses the Trump brand to developers around the world for residential buildings, hotels, and golf courses.
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Forbes, which tracks the wealth of billionaires, estimates that Donald Trump's net worth has nearly doubled since 2023.
The Trump Organization has drawn controversy, with allegations that it could pose a potential conflict of interest for the incumbent president.
In 2021, a congressional committee investigation stated that Trump had "grossly overstated" profits at his Washington, D.C. hotel.
The report stated that the hotel lost more than $70 million during Trump's first term in the White House, despite previously claiming it had earned at least $150 million during that period.
The report also found that Trump concealed "potential conflicts of interest" related to his ownership of the hotel and his roles as its lender and guarantor of third-party loans.
The Trump Organization denied wrongdoing and called the report "misleading."
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